The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has for the first time ever fined a business in the Los Angeles Fashion District for failing to comply with a geographic targeting order (GTO).

A&S World Trading, operating under the name Fine Fragrance (A&S), has been fined US$275,000 for “wilful violations” of the Bank Secrecy Act (BSA) and its implementing regulations.

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